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Anthropic's S-1 shows an 85% gross margin in H1 from running its models, a reality check for skeptics who said pay-as-you-go model sales wouldn't be profitable (Stephanie Palazzolo/The Information) Main Link | Techmeme Permalink

27/10/26, 3:21 pm1 repost22 likes

void

@voidnil.bsky.social

You are saying like 85% gross margin necessarily implies positive net profit. Meanwhile isn't net loss 80B in H1? I'd be more humble given these mixed signals in S-1.

steve-degenaro.bsky.social

@steve-degenaro.bsky.social

Gross margin doesn’t equate to profitability. How will they square $450B of non-cancellable compute commitments over the next 5 yrs?

S. T. Jones

@skeetertjones.bsky.social

That's for the pension funds and retail investors to figure out once all the insiders have cashed out and no longer need to worry about profitability anymore.